Spokeswoman Angie Kaipust said the move is part of 700 cuts being made nationally.

She said it's due to continued challenges and changes in demand for home mortgages.

"Mortgage application volume declined significantly in the last six months of 2013, and we currently expect mortgage origination volume to decline in the first quarter, reflecting seasonality in the purchase market and lower refi volumes," said Kaipust in a statement issued Wednesday.

Employees were given a 60 day notice, offered possible relocation within the company as well as assistance in searching for a new job.

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The Obama administration will unveil a major climate change plan Monday aimed at a large reduction in greenhouse gas emissions from the nation's coal-burning power plants, a senior administration official told CNN.